Call for Shake-up of Japan Tobacco Board

In June 2011, The Children’s Investment Fund (TCI), a hedge fund with a charitable arm that invests in children's projects worldwide, called for a shake-up of Japan Tobacco. In a letter to Japan’s finance ministry, the majority shareholder in JTI, TCI said poor management of Japan Tobacco’s capital structure by its board and senior executives was “destroying shareholder value”. [3]